Encourage Your Kids to Start Their Own Business Online

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Start Their Own Business

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One of the nicest things a parent can do for a child is teach them the basics about business by encouraging them to start their own business online. Starting a business, even a small-scale business, can be an excellent learning tool and a great start to bigger and better things. Kids that receive an entrepreneurial education are likely to become confident leaders and live successful lives as they get older.

Unfortunately, entrepreneurship is not something commonly taught in most schools. So kids either have to strike out on their own, or if they are lucky, they have parents willing to go that extra step and help them. Parents willing to help kids start their own business online (or offline) will reap huge benefits for years to come. And the best part is, the entire process is not only fun, it can also be a fantastic way to strengthen parent-child bonds.

Begin With The Basics

Deciding on the type of business is usually the first step in the process. In some instances, the child will have very specific ideas about what the business should be, but in others, he or she may not be so sure. The important thing is to go with something of interest to the child, and something that has the potential to grow.

Setting up an online business can be as simple as creating a WordPress blog and adding a few affiliate links, or it can be as involved as creating products that will be sold. Of course, there are many other options available, too. Businesses can be as personalized as the individual wants to make them.

Start their own business

Image by ‘amy.gizienski’

Benefits Gained

The main benefit of encouraging kids to start their own businesses online is the fact that the experience itself will help instil a feeling of confidence. Self-confidence is often considered the number one requirement for leadership skills. In addition to this, other benefits related to specific business tasks and aspects are discussed below.

Setting Goals for the Business

Whether the business is based on affiliate sales or on product creation, setting goals is an important part of its success. Having business goals helps kids make the association between setting goals, working to achieve them, and ultimate success.

Sales and Other Opportunities

Running a business provides opportunities for growth, many of which are based on sales. Learning to recognize such opportunities will be a lifelong asset. Learning how to sell products and services and how to handle financial transactions is a life skill that everyone needs. It can help kids learn how to create an income and how to save money.

Marketing

Every entrepreneur knows that marketing strategies require creativity. Kids are definitely known to be creative – they are naturals at this. Let their creative wheels turn and see what happens.

No Failures

Although not every business finds great success, it should be noted that when a true effort has been made, there are no failures. Having a business brings with it many challenges, and with that there are sure to be times when things do not go as planned. This is to be expected. Parents should teach their kids to learn from these situations and move forward with new information.

Communication Techniques

Having an online business gives a perfect opportunity to practice effective communication techniques. Parents can work with kids on methods appropriate for online content as well as for communicating via phone, face-to-face, or mail when necessary.

Helping Others

Most online businesses are designed with a purpose of helping others in some way. This purpose can help kids see that it is important to be humble and to see the greater cause of a business or company. In other words, the purpose of a business is not just to make money for the owner; it is also to help other people.

As children develop a business of their own, they feel a sense of pride and self-worth; their self-confidence increases, and their self-esteem is boosted. These are kids that grow up to become independent, well-adjusted adults who are happy and successful.

Kids who have their own business are kids who are independent thinkers. They don’t look to others for answers; they take it upon themselves to find solutions. These kids are tomorrow’s leaders.

Do you (or would you) teach your kids about business? Would you encourage them to start their own business? Do you disagree with this and don’t think it is necessary to teach kids in this way?  Please let us know your views and opinions by leaving a comment below!

About Debbie Allen

Debbie, founder of TheThingsWomenWant , is a professional writer that specializes in topics of interest to women and online marketing strategies. Debbie can be reached via the comment section below, or you can email her at 'FridayDeb@gmail [dot] com'. You can learn more by following her on Twitter, Facebook, LinkedIn or Google+.

  • https://www.facebook.com/MissClairT Clair Trebes

    Excellent post again Matt ….. I think when the time is right for me I’m going to have an army of mini moguls! haha :)

    I think the most important thing I’ve taken from this post is “confidence” so many children lack self confidence that its SO important to try and bring the best out of them from a young age – helping out with a family business or developing their own ideas would be perfect for helping them with confidence.

    With my own nieces and nephews I try to help them with their “life” skills outside of the typical classroom – something I think is often overlooked!

    Great post, from a different perspective!

    • http://onlineincometeacher.com/ Matt Smith

      Hi Clair,

      Will have to watch out for the growing Trebes empire :)

      I think it’s such a great and important thing to teach kids about business when they are young. The problem is that many schools do it in a very boring, monotonous way that it doesn’t engage with them.

      Hopefully I will have some kids one day and I plan on teaching them as they grow up. It’s true, it can have a big impact on confidence. Just wish more schools would encourage entrepreneurial skills.

  • http://twitter.com/JohnBanksBlog John Banks

    Great article Debbie – this is something I will be teaching my kids when they are old enough. To be in charge of their own destiny…. The skills we learn online and offline in business are hugely beneficial even if you do not go on to run your own business.

    • http://onlineincometeacher.com/ Matt Smith

      Hi John,

      That is a great point! Kids don’t have to end up being their own boss to benefit from learning these things when they are young. Learning about business/money can help in a wide variety of situations throughout life.

  • http://onlineincometeacher.com/ Matt Smith

    Hi Andi,

    Yes, I think we are all living in a very privileged time at the moment. Technology is opening huge business potential for the world to work in just about any industry that they want. Creative industries especially are much easier to get into these days, as you can get noticed in a lot of different ways.

    It doesn’t just have to be creative industries though. Something as simple as encouraging kids to make some money on eBay can help them learn about business. It can be an important skill to learn about buying something and selling it on for a profit, as that can help out throughout life.